Tennenbaum Capital Partners to price $337.5 million middle-market CLO

By Cristal Cody

Tupelo, Miss., Oct. 17 – Tennenbaum Capital Partners LLC plans to price a $337.5 million middle-market collateralized loan obligation offering of loans and notes due 2024, according to a market source.

The Tennenbaum Senior Loan Funding III LLC deal includes $35 million of class A-R floating-rate loans (/AAA/), $100 million of class A-1T floating-rate loans (/AAA/), $60.5 million of class A-2T floating-rate loans (/AAA/) and $142 million of equity notes.

Natixis Securities Americas LLC will arrange the transaction.

Tennenbaum Capital Partners will manage the CLO, which is backed primarily by middle market first-lien loans.

Tennenbaum was previously in the primary market on Feb. 11, 2014 with the $277.75 million Tennenbaum Senior Loan SPV 2014-1 LLC deal and in 2013 with the $232.75 million Tennenbaum Senior Loan SPV LLC transaction.

The alternative investment management firm is based in Los Angeles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.